i did a fresh wordpress install on my NAS and on my local machine (notebook).
on my notebook anything is running perfect (takes ~3 secs to load)
but from my NAS it is really extremely slow :( (taking ~12 secs)

it's the same setup and i couldn't find out the reason .. :(

it seems like that the problem is the internal siteurl (the nas' ip-address) and that wordpress is using it for all paths ..

i forgot to mention that filetransfer is really fast, also normal use of the webserver. one thing i found out: disabling the dashboard's widgets did it speed up dramatically, but still ~2x slower than from the local machine.
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FuxiFeb 9 '11 at 14:44

Just adjust the plugin i added to your needs if it helps...
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kaiser♦Feb 9 '11 at 15:44

Oh, and look at the link at the bottom of the answer. Maybe this helps too figuring out where the delay is (ex. DB??).
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kaiser♦Feb 9 '11 at 15:45

thx for your reply - i already removed unwanted widgets + checked loading times with firebug. it doesn't help really as with my local version even with widgets it loads fast, but not from the NAS - it all just takes much longer ..
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FuxiFeb 9 '11 at 17:11

The "Blackbox Bar" didn't help anything? It's imo better than firebug (afaik i only know how to look at the network tab) 'cause you can look far more into detail (queries, etc.).
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kaiser♦Feb 9 '11 at 17:19